Closure with little movement for the Ftse Mib (-0.04% at 24,581 points), in line with the other European indices. Wall Street rose with the S&P500 up +0.5% and the Nasdaq up +0.9%, waiting for the minutes of the Federal Reserve to be released tonight.
Among the stocks of Piazza Affari, Saipem (+4.9%) and Cnh (+3.2%) stand out. On the other hand, Tenaris (-2.3%) and A2A (-1.9%) were down, the latter after the update of the strategic plan to 2030. The CEO of A2A, Renato Mazzoncini, specified that the Company estimates to close 2023 with a gross operating margin “not less than 1.6 billion euros” and confirmed the dividend policy growing by 3% per annum.
Among others, Enel closed at -0.9% following the 2023-25 plan. Equita Sim’s analysts confirmed the BUY and the Target, raising the estimates on the ebitda by +3% and reducing those on the debt due to the effects of the disposals. Telecom Italia was also down (-1.3%) as we await the political meeting on the single network dossier in the next few days.
In the evening, attention will focus on the Fed minutes, from which traders will look for indications on the next moves by the FOMC on interest rates. Tomorrow, however, the minutes of the ECB are scheduled.
In the morning, S&P Global published its flash estimates on the PMI indices in the Eurozone countries which show timid positive signs while remaining well below the neutrality threshold set at 50 points.
At the aggregate level, the Eurozone continues to signal weakening fundamentals, but the value of the PMI Composite index of production was equal to 47.8 – the best in two months – thanks to the less intense drop in orders, the improvement in over the next 12 months and reducing supply problems. “The estimates published today tell us that the situation in the manufacturing and services sector in the Eurozone has improved compared to the gloomy results recorded in the months of September and October”, comment the experts of IG Italia.